Uhuru Growth Fund I
Region and countries in which the fund invests: Africa / Nigeria, Ghana, Cote d’Ivoire, Mali, Burkina Faso and Senegal
Jurisdiction of registration: Luxembourg
Business sector: Generalist fund
Signing date (month/year): 3/2021
Size of Finnfund’s financing (commitment): USD 10,000,000
Share of Finnfund’s financing: n/a
Environmental and social categorisation: FI-B
Companies financed by the fund (updated 9/2022):
|Phoenix Life Insurance Co||Insurance||Africa||Ghana|
|Everyday Group||Retail trade||Africa||Nigeria|
In the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the final closing of the fund.
Uhuru Growth Fund I is a mid-market private equity fund that will provide growth capital to mid-market companies across West Africa, with a focus on Nigeria, Ghana, Cote d’Ivoire, Burkina, Faso, Mali, and Senegal. Uhuru Growth Fund I will invest in high-growth sectors, with emphasis on consumer-related sectors and financial services.
Main development impact
The Fund’s priority target sectors of consumer goods and financial services typically have large development effects. The generalist fund financing growth-oriented companies is expected to create employment effects, local production, and tax revenues.
Last modified: September 2022